Bulk scrap export prices dip; floor may be near

Feb 21, 2014 | 05:43 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, HMS, heavy melt, shred, Sean Davidson

NEW YORK — Prices for U.S. bulk ferrous scrap exports to Turkey slipped Feb. 20 as Turkish mills continued to book cargoes at attractive rates.

One exporter reportedly sold 40,000 tonnes of a 90/10 mix of No. 1 and No. 2 heavy melt at $352.50 per tonne c.i.f. Turkey, although several sources said that the material was more likely to be HMS 1&2 (85:15) quality.

A second exporter sold 30,000 tonnes at a composite price of $351 per tonne for 12,000 tonnes of HMS 1&2 (80:20) and 18,000 tonnes of shred to the same Turkish mill. The sales price suggests a HMS 1&2 (80:20) price of about $349 per tonne, down 1.4 percent from previous sales (amm.com, Feb. 19).....

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